Запуск USDH: новая эра стейблкоинов от Native Markets на Hyperliquid Translation: Launch of USDH: a new era of stablecoins from Native Markets on Hyperliquid

Native Markets has introduced the USDH stablecoin on the Hyperliquid platform. Trading has commenced for the USDH/USDC pair, with initial turnover around $2.1 million.

USDH is the first «stablecoin» created as a result of a vote by the Hyperliquid validators. The token operates within the HyperEVM network and is integrated into the exchange’s ecosystem.

At the start of September, Native Markets won a competition to launch the stablecoin, outperforming proposals from Paxos, Frax, Agora, and other companies.

The issuer has announced that USDH is fully backed by cash and U.S. Treasury bills with short maturities. Transparency of reserves is maintained through oracles. A portion of the revenue generated from managing reserves will be allocated to repurchasing HYPE tokens.

The launch of USDH coincides with the growth of the stablecoin sector, which, according to CoinGecko, has seen its total market capitalization exceed $299 billion.

Notably, in mid-September, a blockchain researcher known as MLM reported test transactions of USDC on HyperEVM.